CIBC Asset Management Inc Has $482.83 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

CIBC Asset Management Inc increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,591,961 shares of the e-commerce giant’s stock after purchasing an additional 153,722 shares during the period. Amazon.com comprises about 1.6% of CIBC Asset Management Inc’s investment portfolio, making the stock its 17th largest position. CIBC Asset Management Inc’s holdings in Amazon.com were worth $482,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Broderick Brian C grew its stake in Amazon.com by 0.4% during the third quarter. Broderick Brian C now owns 73,711 shares of the e-commerce giant’s stock worth $13,735,000 after buying an additional 328 shares during the last quarter. Diversified Portfolios Inc. boosted its stake in Amazon.com by 0.7% in the third quarter. Diversified Portfolios Inc. now owns 13,681 shares of the e-commerce giant’s stock valued at $2,549,000 after acquiring an additional 90 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Amazon.com by 1.4% during the third quarter. OneDigital Investment Advisors LLC now owns 372,440 shares of the e-commerce giant’s stock worth $69,397,000 after buying an additional 5,270 shares during the last quarter. ING Groep NV increased its stake in Amazon.com by 14.7% in the third quarter. ING Groep NV now owns 3,500,507 shares of the e-commerce giant’s stock valued at $652,249,000 after purchasing an additional 449,110 shares in the last quarter. Finally, Sargent Investment Group LLC increased its holdings in shares of Amazon.com by 8.8% in the third quarter. Sargent Investment Group LLC now owns 52,539 shares of the e-commerce giant’s stock worth $9,790,000 after acquiring an additional 4,235 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

AMZN stock opened at $229.05 on Thursday. The firm has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $207.40 and its 200 day simple moving average is $192.05.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. On average, analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMZN. Piper Sandler upped their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Bank of America lifted their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Telsey Advisory Group upped their price target on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Susquehanna raised their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Tigress Financial upped their target price on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $243.00.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.